Chartty Reglstratlon Number: 207610
THE MARK BENEVOLEKf FUND
FINANCIAL sfATEMENTS
31 AUGusf 2022

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT
FOR THEYEAR ENDED 31 AUGU￿ 2022
The Trustees present their report an(J the financlal statements for the year ended 31 August 2022.
LEGAL AND ADMINISTRATIVE D￿AlLs
The charlty is The Grand Lodge of Mark Master Masons, Fund of Benevolence and is registered at the Charity
Commi55lon under registration nurnber 207610. The charity operates as The Mark Benevolent Fund.
The tharlty's address Is 86 St James's Street, London SWIA IPL
TRUSTEES
The Trustees of The Mark Benevolent Fund who served during the year, and to the date of signing thls report,
were-
D F Ashbolt
J Bell
l N Clark
W A Dlvall (Appointed 7161221
H K Emmerson IRetlred 7161221
P Hawken (Retired 7161221
K Hicks
C E Lord, OBE. JP (Retired 7161221
A S McLarèn
A Morris (Retlred 7161221
R J Ollver (Appolnted 7161221
T C Pakrashi
D Powell IAppointed 7161221
R F Richardson (Appointed 7161221
J Ste8gles (Appointed 7161221
A l Torrance (Retired 7161221
M J L Whelan, JP
Newly appointed Trustees ￿CeIve an Induction from the Presldent and Grand Treasurer and attend tralninB
courses a5 ne￿ssary.
ORGANISATION
The Board of Trustèes delegate the day-to4ay running of the charity to the management of the Grand Lodge of
Mark Master Masons. There are tsvo Sub-committèes to the Board of Trustees..
The Worthy Causes Committee provides asslstance to other registered charltles. It meets two to three
times a year to examine applications looking for financial support or from Mark Provinces and 0i5trict5
wishingto support suitable charities. The appropriateness of the allocation of the charity's fvnds is at the
forefront as applications are considere(l. Following a Worthy Causes Committee meetin& all mernbers
are sent copies of the approved application5. If no queries are raised withln ten days, these grants will be
paid. All of the Trustees of the charity are members of the Committee.
The Worthy Causes Committee also ha5 a sub¢ommlttee that administers grants up to £50,000 to enable
them to be dealt wlth swiftly. The member5 of thls commlttee are D Ashbolt Ichairmanl. K Hicks, A
Mclaren. R Oliver, T C Pakrashi, R Richardson.
21
The Petltlons Commlttee provide5 relief to poor and distressed Freemasons. their wives. widow5 and
children. Indlvldual grants of up to £15,000 may be made for help wlth general livlng expenses for a 12-
month period, relief of debt If appropriate and one-off items such a5 rovf repairs and heatin8 Svstem
replacement. The Committee meets generally every six to eight weeks dependlng on the level of
applications. The mernbers of the Commlttee are M Whelan Ichairmanl, I Clark, D Ashbolt, B Divall, J
Steggles and D Powell.
Page 1

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
PRINCIPAL ADVISERS
BANKERS
Clydesdale Bank pl
154-158 Kensington High Street
London
W8 7RL
FUND MANAGERS
JMFinn&CoLtd
4 Coleman Street
London
EC2R STA
AUDITOR
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 71W
CONSTrnJTION AND OBJEcrs
The Mark Benevolent Fund is governed by both statute Icharities Act) ond the Constilutlons and Regulations
dated 1955 and subsequent amendments. The objects of the charity are:
the application of the eharlt¢s funds to any other exclusively charitable purposes as may be determined
from time to tirne by the trustees. In reaching that determination. the trustees seek and consider the
views of the Grand Lodge and
the relief of need. hardship and distress among Mark Master Mason5, their familie5 or othèr dependant
andlor amongst retired employees of The Grand Lodge in such manner as the trustees shall from time to
tlme determine.
The Mark Benevolent Fund is SUPPQrted by contributions from Brethren. Ladies, Lod8es an¢J Provlnces and these
may take the form of either donations, covenants, legacie5 or bèquests.
The Trustees confirm that they have complled with the duty in Section 17 of the Charitiès Act 2011 to have due
regard to the guidance issuèd by the Charity Commission on publSc benefit.
ACTIVITIES
The total Erants in the year pald out underthe trustees, grant making pollcylsee page 31 amounted to £906,369
12021.. £2,166,327) of which £3,000 was pald to hospice512021.. £1,286,OC4)1. £876,731 was paid to 33 charities,
and £26,638 was paid to Mark MastÈr Masons and other dependants in need.
The Trustees have continue<l to revlew all applications for grants and grants were made from The Mark
Benevolent Fund to Mark Master Masons or their wives, widows, 51sters etc. and for 5pecifi£ purpose5 to other
Reglstered Charitle5.
FUNDRAISING
The majorlty of the charltls income is from the members ofthe Grand Lodge of Mark Master Masons. The Mark
Benevolent Fund has not engaged with third parties to ralse funds and any dSrect approach to members of the
public for fundinB has been limited. No complaints were received in relation to the Mark Benevolent Fund's
fundraising activities.
Page 2

THE MARK BENEVOLENT FUND
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 AUGUST 2022
GRANT MAKING POLICY
Grants are made to Mark Master Masons or thelr wlves. wldows, sisters or other dependents or children. or
employees of the Grand Lodge who have retlred, provlded that such grants are for the relief of need. All grants
awarded are subject to financial mean5 te5tin8 and approval by the Petltlons Committee.
Grants are also made for charitable purposes other than for the relief of need (which are reported to Grand
Lod8el. All 8rants awaided are subject to review and approval bythe member5 of the Worthy Causes Committee.
In April 2021, the Tru5tee5 of the Mark Benevolent Fund announced a Major Capital Grant to h05pi¢es to
commemorate the significant contributlon made to the Crown and the natlon by H R H The Prince Philip, Duke
of Edinburgh (see note 4. pa8e 141.
RESERVES POLICY
The total reserves of the Fund amounted to £21.20 million 12021- £23.50 million), comprising Un￿$t￿tted
reserves of £20.14 million12021.' £22.48 rnillionl and designated funds of £1.01 million12021.' £1.02 million).
The free reserves of the Fund total £20.14 million at the ye3r-end12021: £22.48 million).
The majority of grants are paid to Non Masonic Charities with the balance paid in the main to the elderly. these
take the form of either emergency Brants or annulty grants which rnay have to bè maintained for, on average,
between 12 and 15 years. It is the polity of the Trustees to ensure that the fund has adequate re5erve5 to pay
these grants each year. Funds are alsoi rètained as it is the practice to make substantlal donation5 frorn time to
time and investments and incomè therefore must be maintsined to further this policv.
GOING CONCERN
The Mark Benevolent Fund is managed by the Board of Trusteeswhich are all honorary positions therefore there
are no dirert financial costs in the rnanagement of the fund. The Charities Manager and the financial control
administration duties are provided by Èmployees of the Grand Lodge of Mark Master Masons.
Our planning processes take into consideratlon the current economic climate and its ongoing impact on the
various sources of income and planned donations. The fund raising is mainly provided by Mark Masons who
have, by rotation of each provincè in the England and Wales, Mark Benevolent Festivals which are usually the
result of special events over the previous five to seven years. It Is expected that this will continue for the
foreseeable fijture. In addltlon the donation policy of thetru5tees Is that the annual payments to Worthy Giuses
do not normally exceed the dividend income from the investments.
Trustees conslderthatthere are sufficient reserves held at 31 August 2022 to manage anyforesèeable downturn
in the UK economy. The Trustees consider that there 15 a reasonable expectation that the charity has adequate
resources to continue in operational existence for the foreseeable future and, for this reason. the Trustee5
continue to adopt the going concern basis in preparing the flnancial statements.
INvEsTMETr￿ POWERS
Investment powers are set out and operated within the provlslons of the Trustee Act 2000. Thè Investments are
rnana8ed by thè lrtvestment Committee. appointed by the Trustees, which is advised by J M Flnn & Co Limited.
INVESTME1￿ POUCY AND PERFORMANCE
The policy of the trust deed is to quickly provlde grants in relief of need for Mark Masons and their dependents
and from time to tlme to make substantial grants to worthy cau5e5 likely to benefit Mark Masons and so far as
funds permit to make similar grants to non-masons. The sources of income for the fund are donations from the
members wlth additional receipts from the annual festiva15, the amount of whlch depends on the number of
Lodges in the province 5UPF)Ortin8 the festival, and any inve5trnent income (including capital gains).
Changes are made to Investments held on the basis of 5eekin8 to maintain the existing funds and to increase
them so far as possible. In accordance with these alrns, the funds are managed by J M Flnn & Co Limited. The
Investment Committee, appointed by the Trustees, revlews the funds on a re8ular basls.
Page 3

THE MARK BENEVOLENT FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
RISK POLICY
The Trustees have reviewed thèir procedures to identify and examine the major 5trateglc, business and
operational risk5 that the charity faces. The ne￿SSary systems are estsblished to enable reports to be produced
to ensure that action is taken to rnana8e the effects of the identified rlsks. Below a summary of the major risks
faced and policies to mitigate these.
Risk
Loss of Key Staff
Disaster recovery
Steps to miti8até rlsk
Succession planning, document 5VStems, agree notice periods and handovers
ABree IT recovery plan, implement data back-up. revi￿ insurance, create dlsaster
recovery plan
Review & agree policy, obtain advice & manaEement, implement reserves policy,
regular performance monbtoring
Communlcate with 5UPPOrter5 & beneflclaries. Bood quality reporting of activities
& rinancial situatlon, implement public rÈlations traininyjprocedures
Revlew & ag￿e compliances procedure5 and allocation of staff responslbllities
Investment Pollcles
Public Perception
Regulatory reporting
TRUSTE￿ RESPONSIBILMES
The Trustees are responsible for p￿paring the Trustees, Report and the financial statements In accordance
with applicable law and rèBulatlons.
Charity law requires the Trustees to p￿pare financial statements for each financial year in accordance wlth
Unlted Kin8doffl Generally Accepted Accounting Practice Ivnited KinÉdom Accountin8Standardsl and applicable
law.
Under charity law the Trustees must not approve the flnancial statements unless they are satisfied that they
give a true and fair view of the state of affairs of the charity and of its net incominyJoutBoin8 resources for that
period. In preparlng these financial statements, the Trustees are requlred to..
selert sultable accountin8 policies and then apply them consi5tentty,'
observe the methods and principles in the ChaTlties SORP,.
make judgments and estimates that are reasonable and prudent,.
prepare the financial statèments on the going cOn￿rn basls unless it is inappropriate to presume that
the charity will continue to operate.
The Trustees are responsible for keeping adequate accountlnE records that are sufflcient to show and explain
the charity's transactlons and dI￿10$e with reasonable accuracy at any time the financial position of the charlty
and enable them to ensure that the financial statements comply wlth the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2(XJ8 and the provisions of the charlws constitution. They are also
responsible for safeguarding the assets of the ¢harity and hence for tsking rÈasonable steps for the prevention
and detèctlon of fraud and other irregularities.
AUDITOR
Crowe U.K. LLP has Indlcated its willingne55 to be reappolnte(l as statutory auditor.
Approved by the Trustees on 30 January 2023 and si8ned on their behalf by..
D F Ashbolt
Deputy President of the Mark Benevolent Fund
Page 4

Independent Audltorfs Report to the Trustees of the Mark Benevolent Fu•)d
Oplnion
We have audited the financial statements of the Mark Benevolent Fund for the year ended 31 August 2022
whi¢h Comprlse Statement of Financial Activlties, the Balance Sheet, the Cash Flow Statement and notes to the
financial statements, including significant accounting policies. The financial reportin8 framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial
Reportlng Standard 102 The Financial Reporting Standard appllcable in the UK and Republic of Ireland Iunited
Kingdorn Generally Accepte¢J Accountlng Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charitvs affairs 35 at 31 August 2022 and of its incoming
resources and application of reSoUr￿s, including its income and expenditure for the year then ended;
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordano with the requirements of the Charlties Act 2011.
Ba51s for oplnlon
We conducted our audit in accordance with International Standards on AudltiriB IUKI IISA5 IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the
audit of the financial statements sèction of our report. We are independent of the charlty in accordance with
the ethical requirements that are relevant to our audit of the financial statement5 in the UK, including the FRCS
Ethical Standard. and we have fulfilled our other ethical responsibllities In accordan￿ with these rèquiremènts.
We believe that the audit evldence we have obtained 15 sufficient and appropriate to provide a basls for our
opinion.
Condusions relatlngto golng concern
In auditing the financial statements, we have concluded that the trustees, use of the going toncern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any materlal un￿rtaIntieS relating to events or
conditions that, individually or collectively. may cast significant doubt on the chority's ability to continue a5 a
going concern for a period of at least twelve months from when the financlal statements are authori5ed for
Issue.
Our responsibilities and the re5POnsibilities of the trustees with respect to 80ing concern are described in the
relevant sectlons of this report.
Other Informatlon
The trustees are responsible for the other information contained within the annual report. The other
Information comprises the information iA¢luded in the annual report. other than the financlal statements and
our auditorf5 report thereon. Our oplnion on the financial statements doès not cover the other informatlon and
we do not express any form of assurance concluslon thereon.
Our responslbility is to read the other Information and. in doln8 50, consider whether the other information is
materially inconsistent wlth the financlal statements or our knowledge obtsined In the audit or otherwise
appears to be materially misstated. If we identify such material inconsistencies or apparent materlal
misstatements, we a￿ requlred to determlne whether this 8ive5 rise to a materlal misstatement in the financlal
statements themselves. If, based on the work we have performed, we conclude that there 15 a material
misstatement of this other Informatlon, we are required to report that fact.
We have nothing to report in this regard.
Page 5

Matters on which we are required to report by exceptlon
We have nothing to report respect of the followlng matters in relation to which the Charlties (Accounts and
Reports) Regulations 2008 require us to report to you if, in our opinlon:
the Informatlon given in the finanrial 5tstements is inconsistent in any material respert with thè
trustee5' report,. or
sufficient accounting records have not bèen kèpt., or
the financial statement5 are not in agreement with the accountin8 records and return5,' or
we have not received all the infonnation and explanations we require for our audit
Responsibilitie5 of trustees
As explained more fvlly in the trustees. responsibilities staternent set out on page 4. the trustees are
responsible for the preparation of the financial 5taternents and for being satisfied that they @ive a true and fair
view, and for such internal control as the trustees determine is necwary to enable the preparation of finanrial
Statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assesslng the chariws ability to continue
as a going con￿rn, disclosin& a5 applirablè, matters related to going concern and using the going concern
basis of accounting unless the trustees either Intend to liquidate the charity or to cease operations, or have no
reallstic alternative but to do so.
Auditorfs responsibllttles lor the audtt of the flnancSal ststements
We have been appointed a5 auditor under section 144 of the Charities Act 2011 and report In accordan￿ wlth
the Act and relevant regulations made or havhn8 effe¢t thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to Issue an auditor's report that includes our
opinion. Reasonable a5sur3nce 15 a high level of a55urance, but is not a guarantee that an audit conducted In
accordance with ISAS IUKI will always detect a material mi551atement when it exists. Misstatements Can arlse
from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be
expected to influence the economic detisions of users taken on the basis of these financial statements.
Irre8ularities, Including fraud, are Instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, Outlined above. to detect matefial misstatements in respect of
irregularities, including fraud. The extent to whlch our procedures are capable of detecting irregularities.
including fraud is detailed below:
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reportin8 Council's webslte at.. www.frc.or
.uk
auditorsre5
onsibilities. This descrlptlon fornis part of our
auditorfs report.
Extent to whlth the audlt was consldered capable of detectlng Srregularltle5, Includin8 fraud
Irregularitie5. includin8 fraud, are instances of non<ompliance with law% and regulations. We identified and
assessed the Tisks of material misstatement of the flnancial statements from irre8ularitles, whether due to fraud
or error. and discussed these between our audit team members. We then designed and performed audlt
pro¢èdurÈs responsive to those risks, including obtaining audit eVIden￿ sufflclent and appropriate to provide a
basis for our opinion.
Page 6

We obtained an understanding of the legal and regulatory frameworks within which the ¢haiity and group
operates, focusinB on those laws and regulations that have a direct effect on the determination of material
amounts and disclosures In the financlal statements. The laws and regulations we considered in this contÈxt
were the Charities Act 2011 together with the Chafities SORP IFRS 1021. We a5se5sed the required compliance
with these laws and regulations as part of our audit procedures on the related flnancial statement items.
In addition, we considered provisions of other laws and regulations that do not hèvè a direct effect on the
financial statement5 but Complian￿ with which might be fundamental to the char5tVs and ihe group's ability to
operate orto avoid a material penalty. We alsoconsidered the opportunitiesand Incentives that may existwithln
thè eharrtyènd the group for fraud. The laws and regulations we considered in this Context for the UK operations
included General Data Protection Regulation IGDPRI.
Audlting standard5 limit the required audit procedures to Identify non-compllance with these 18ws and
regulations to enquiry of the Trustees and other management an¢J inspection of ￿gUlatOry and legal
correspondence, if any.
We identified the greatest rlsk of materlal Impart on theflnanclal statements frorn irre8ularitie5, rncludin8 fravd,
to be within the tlming of recognition of income and the overrldè of controls by mana8emeni. Our audlt
procedures to respond to these risks included enquiries of management and the Management Board about thelr
own identification and a5se5srnent of the risks of irregularStles, sample testing on the posting of journal5,
reviewing accounting estimates for biases. sample testing of incorne, reviewing regulatory correspondence. and
readlng minutes of meetings of those charged wlth governan￿.
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some
material misstatements in the financial statèments, even though we have properly planned and performed our
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations IiTregularitiesl is from the events and tran5action5 reflerted in the financial statements, the les5 likelv
the inherently limited procedures required by auditing standards would identify it. In addltion, as with any audlt.
there remained a higher risk of non41etection of irregularities. as these may invofve collusion, forgery.
intentional omissions, misrepresentations. or the overrlde of internal controls. We are not responsible for
preventing non-compliance and cannot be experted to detect non-compliance with all laws and regulations.
Use of our report
Thls report Is made solely to the charl￿S trustees, as a body, in accordance with Part 4 of the Charities
(Attounts and Reports) R￿ulatIonS 21)08. Our audit work has been undertaken so that we mlght state to the
harit￿5 trustees those matters we arè required to state to them in an auditorfs report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than the charity and the charl￿S trustees as a body, for OUT audit work, for this report. or for the opinions we
have formed.
G￿[LkLlP
Crowe U.K. LLP
Statutory Auditor
London
Date: 23 February 2023
Crowe U.K. LLP is eligible for appointment a5 auditur of the charlty by virtue of its eli8ibility for appointment as
auditor of a company under sertion 1212 of the Companies Act 2006.
Page 7

THE MARK BENEVOLENT FUND
STATEMENT OF FINANaAL AcfiviTIES
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2021
Notes
INCOME AND ENt)OWMENTS FROM:
Donations and legaciès
Investments:
Investment income
Interest receivable
Other".
Rent receivable, 86 St. lame5'5 Street, London SWI
1.511,581
1,224,870
537.541
56
503,998
1,265
Total
2,049,178
1,730,133
EXPEND￿uRE ON:
Ralsln8 funds
Investment management fees
Charitable artlvltle5
Grants & Support Costs
Benevolent jewe15 distribution
99313
98.516
1,284,561
60,345
2.532,970
44,855
Tt)tal
IA44.719
2.676,341
OPERATING ILOSSI I SURPLUS
604,459
(946.208)
Net gains I1105sesl on investment assets
{2.953.613)
3.534,646
NET INCOME I (EXPENDITURE)
{2.349,1541
2,588,438
NET MOVEMENT IN FUNDS
12,349,154)
2.588.438
FUND BALANCES
As at I September 2021
23,500.678
20,912,240
FUND BALA14CES CARRIED
FORWARD
21.151.524
23.5LKI,678
All of the above are represented by contlnuing operatlons.
There are no recognised Bains and losses other than those shown above.
The notes on pages 11 to 16 fomi prt of these financlal statemerrtS.
Page 8

THE MARK BENEVOLENT FUND
BALANCE SHEET
31 AUGUST 2022
2022
2021
Notes
FIXED ASSETS
Tangible fixed assets
Irwestments
I.0￿.400
19.397,360
1,020,800
22,150,786
2OA09,760
23,171.586
aJRRENT ASSETS
Debtors
Cash at bank
212,087
752,822
152,250
317,627
964.909
469,877
CURRENT LIABILMES
Creditor5
223.14S
140.785
223.145
140.785
N￿CuRRENT ASSErs
741.764
329.092
TOTALASSEfs LESS CURRENT LIABIUTIES
21,151.524
23.500.678
REPRESENTED BY FUNDS
Unrestrided
Deslgnated fixed assets fund
General fund
1,012,400
ZO,139,124
1,020,800
22.479,878
21.151.524
23,500.678
The financial statements were approved by the Trvstees and authorised for issue on 30 January 2023
and signed on their behalf by..
,L£
ident of the Mark Benevolent Fund
The notes on pages 11 to 16 forni part ofthese flnandal ￿￿ement
Page 9

THE MARK BENEVOLENT FUND
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2021
Notes
Cash flows from operatin8 a¢tivities:
Net cash usÈd by operating artivities
97.785
11,440,607)
Cash flows from Investlng actlvltles:
Investment income
537.597
505,263
1,879.049
2,622,412
12P79,236) (2.423,895)
prO￿ed from sale of investments
Purchase of investments
Net cash provided by imiesting activilies
703 780
Change in ¢ash and Cash equivalents In the year
435,195
{736.827J
Cash and cash equlvalents brought forward
17 627
Cash and cash equlvalents carrfed forward
Recondllatlon of net lexpenditureifincome to net ¢ash
flow from operatlng artfvltSes
2022
2021
Net lexpenditurel/income for the year las per Statement
of financial activitiès)
{2349.1541
2.588,438
Adjustment lor:
Investment Income
Loss/lBainl on investments
Depreclatlon of tangibles fixed assets
Ilncreasel/decrease In debtors
Increaselldecreasel in creditors
1537,5971
953.613
1505.2631
f3,534,646J
159,8371
82
{72,832J
Net cash used by operatlng artlvltles
Analysb of cash and cash equlvalems
2022
2021
Cash in hand
752,822
317,627
Total
Page 10

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
CHARITY INFORMAnON
The Charity is a Public Benefit Entity registered as an unlncorporated charity registered in England and
Wales (registration no. 2076101 and operates from its registered office Mark Masons, Hall, 86 St.
James's Street, London. SWIA IPL.
ACCOUNTING POUCIES
Basss of AccountSng
The financial statements have been prepared In accordance wlth the Charitles SORP IFRS1021
applicablè to charities preparin8 their accounts in accordan￿ with the Financlal Reporting Standard
applicable in the UK and Republlc of Ireland and the Charities Act 2011 and UK Generally Accepted
Practlce.
The financial statements have been prepared to glve a "true and fairt view and have departed from
the Charities IAccounls and Reports) Regulations 2(X)8 only to the extent required to provlde a "true
and fairf view. This departure has involved followin@Accountlngand Reporting by Charilies preparing
their account5 in accordance with the Finanrial ReportlnB Standard applicable in the UK and Republi
of Ireland IFR51021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities..
Statement of Recommended Practice effertlve from l April 2005 which has since been withdrawn.
Donatlons
Donations received for a specific year and deposited wlth The Mark Benevolent Fund are Included in
the Statement of Financial Artivities in thè year of recelpt.
Other donations, where the resolution to make a glft to The Mark Benevolent Fund is uncertaln. are
included tn the Statetnent of Financial Activities on a receipts basis.
Gifts
Gifts received In the year are Included In the Statement of Financial Aciivitie5 at their rnarket value on
the date received.
{dl
Arnortlsatlon of Leasehold Property
In accordance with the terms agreed with the Charity Commissioners. The Mark Benevolent Fund
Invested £1,200,000 in the acquisitlon and converslon of 86 St. James's Street. London SWI. The
oiiginal lease was for 99 years from 5 January 1979. This has been Subsequently rene8otlated and
nèw 125 year lease from April 2018 agreed. This has resulted in an increase in the charge for the
amortisation of the lease from £4,2L%) per annum to £8.4￿ with effect from September 2019. Thls
will continue lo be borne by the General Fund of The Grand Lodge of Mark Mastèr Masons.
The residual economic Ilfe of leasehold property is reviewed on a re8ular basis. The Trustees have
determined the p051tion with re8ar¢J to property depreciation as stated above. The Trustees are also
of the view that the carrying value of thls asset is not Smpaired having assessed the service delivery
and will undertake future reviews in accordance wlth FRS 102.
le)
Investments
Flxed asset Investments are revalued to market value at the balance sheet date and the surplus or
deficit of thi5 revaluation represents unreallsed Bains or1055es.
The diffeiences between the carrying value lor cost if acquired in the yearl and the proceeds of
investments disposed of represent reallsed Investment gains or105se5.
Net reallsed and unrealised gains or losses are shown as a Combined figure In the Statement of
Flnanclal Actlvities.
Page 11

THE MARK 8ENEVOLENT FUND
NOTES TO ThE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
ACCOUNTING POUCIES {CONTINUEDI
lfj Expendrture
Expenditure 15 accounted for under the accruals concept. The irrecoverable elemenl of VAT is included
with the item of eypen5e to which it relates. Staff are employed by Thè Grand Lodge of Mark Master
Masons and relevant staff costs are recharged to The Mark Benevolent Fund as part of the
administration fee.
Investment Income
Investment Income is accounted for on an accruals basis.
{hl Governance Costs
Governance costs relate to the statutory running of the charity-
Flnancial Instruments
The chaTlty has financial asset5 and financial Ibabilitles of a kind that quallfy as basic financlal
instruments. Basic financial instruments are Inltlally recognlsed at tTan5actlon value and subsequentlv
measured at amortlsed ¢0st using the effertive lrtterest method. Financial assets hèld at amortised
cost comprise cash and bank and in hand, together with trade debtors, attrued Interest and r)ther
debtors. Financial liabilities held at amortlsed cost comprise grants payable and accruals.
Investments, includin8 bonds held a5 part of an investment portfolio are held at fair value at the
Balan￿ Sheet date, with gains and losses beln8 reco8nlsed wlthin income and expenditure.
Critical accountlngludgements and key sources of estlmatlon un¢ertalntv
In the application of the charity's accounting prtrlicies, Trustees a￿ required to rnake ludgements,
estimates, assumptions aboutthe carryingvalues of assets and liabilities that are not reaijily apparent
from othersource5. The estimate5 and undÈrlyin8 assumptions are based on histori¢al experience and
other factors that are considered to be relevant. Actual results may differ from these estlmates.
Theestimates and underlyinga55umptions are reviewed on an on-going basis. Revi5i0nsto accountin8
estimate5 are recognised in the period in which the estimate is revised if the revision affects only that
period, or in the perio(l of the revlsion and future periods If the revision affects the current and future
periods.
In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affeding
assets and liabilities at the balance sheet date arè Ilkely to result in a material adjustment to their
carrying amounts in the next financial year.
Page 12

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
ACCOUNTING POLICIES IcoiifiNUEDI
Ikl
Goin8 ¢oncem
The Mark Benevolent Fund is managed by the Board of Trustees which are all honorary positions
therefore there are no direct financial costs in the management of the fund. The Charitie5 Manager
nd theflnantial control administration duties are provided by employees of the Grand Lod8e of Mark
M35tei Masons.
Our planning processes take into consideration the current economic dimate including the Covid-19
pandemic. and its ongoing impart on the various sources of income and planned donatlons. The fund
raising is mainly provided by Mark Masons who have, by rotation of each provlnce Sn the England and
Wales, Mark Benevolent Festivals which are usually the result of special events over the previous flve
to seven years. It is expected that this will Continue for the foreseeable future. In addition the
donation policy of the trustees is that the annual payments to Worthy Causes do not norrnally exceed
the divldend in¢tsme from the investments.
Trustees consider that there are sufficient reserves held at 31 August 2022 to manage any foreseeable
downturn in the UK economy. The Tru5tee5 wn5ider that there 15 a rea50nable expectation that the
Charity has adequate reSoUr￿S to continue in operational existence for the foreseeable future and,
for this rea50n, the Trustees continue to adopt the golng con¢em basls in preparlng the financial
statements.
WPPORT COSTS
2022
2021
Admlnlstratlon fee
Printing and stationery
General expenses
Rent paid
Bank charges and Insuran￿ costs
Governance cost5 (note 51
2W.000
2￿.000
22,121
1>5,000
131
20.940
378,192
11.825
135.000
18
19.800
366,643
All support ¢osts are applicable to 8rant maklng whlch is the charitys only charitable activity and are Included
with the grant makrng costs on the face of the Statement of Financial Activities.
Page 13

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
2022
2021
Grants to other charities
Major capital grant to support hospices In England & Wales
Grants to individuals
876,731
3,000
26,638
906,369
378,192
1,284,561
832,958
1,286,000
47,369
2,166.327
366.643
2,532,970
Support costs (note 31
The grants to other charities in the year were:
Maidstone East District Scout Council
Sunbury & Walton Sea Cadets
The Freedom Centre
Kingfisher Medway Trust
Kingfisher Medway Trust
RNU Northumberland
Whirlow Hall Farm Trust
East & North Herts Hospitals Trust
Stageright
350 Squadron ATC
Spitalfields Crypt Trust
Sutton Women's Centre
Addenbrooke'5 Charitable Trust
Clèveland Mountain Rescue Team
Derlan Hospice Chlldren's Hospl
Bee Unique
Inspectorate of Romania (Ukrainel
The Christie Charitv
Inspectorate of Rornania (Ukrainel
Strongbones Children'5 CharitableTrust
Ambulante Aid Icheshirel
Cornwall Scouts
Inspectorate of Romania Iukrainèl
Inspectorate of Romania Iukralnel
City of Goodness Orphanage Appeal Icheshirel
Youth Adventure Trust
Inspectorate of Romanla Iukralnel
Merlin MS Centre
Blrmlngham Women's & Chlldren's Hospital
Inspectorate of Romania IUkraSnel
Millom Nètwork Cèntre
East Yorkshire Foodbank
Blood Bikes Manchester
13,860
31,000
54,762
28,199
27,437
45.000
20,000
2,527
12BOO
I8￿00
9,970
4,327
ioojxx)
24￿61
28￿75
26,669
2S.(MIO
28.795
25XWXI
5.750
io,ooo
25,000
25.000
iO,IHM)
25,IMI
7,080
loo,000
25.IXIO
46.090
38.118
18.801
876,731
832,958
The Major Capital Grant of £3,OL￿{202I-. £1,286,000) was distrlbuted through Mark Lodges in England &
Wales who each nominated a local hospi￿ to receive a £l.ocKs donation wholly funded by the Mark
Benevolent Fund.
Pa8e 14

THE MARK 8ENEVOLENT FUND
NOTES TO ThE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
GOVERNANCE COSTS
2022
2021
Auditorfs remuneration
19.800
No Trusteè re￿iVed any remuneration or reimbursement of expenses durin8 the cu￿ent or previous
year.
FIXED ASSETS
Leasehold
property
Cost
At 31 August 2022 and I September 2021
2022
421NP.000
Depreciation
At I September 2021
Charge for the year
179.200
8,400
At 31 August 2022
187,600
Net 8ookValue
At 31 Au¥ust 2022
012,400
At31 August2021
1,020,800
Page 15

THE MARK BENEVOLENT FUND
NOTES TO THE FINANCIAL STATEMENTS (CONnNUED)
FOR THE YEAR ENDED 31 AUGUST 2022
INVESTMENTS
2022
2021
Market value at I September 2021
Less .' Disposal prO￿edS
Add Acquisition5 at cost
Net realised and unrealise(J galns
22.150.786
11.879.049)
2,079.236
12,953,613)
18,814,657
12.622.4121
2,423,895
3,534.646
Market value at 31 August 2022
19,397360
22,150,786
Hlstorlc cost
13,553,587
13,716,021
All investments are listed on a reco8nised stock exchange and managed in the UK by J M Hnn & Co
Limited. The investments at the year-end comprised..
Fixed interest
Equities
Other (Property, Alternative Assets & Emerging Economies)
1.149.148
18,219,864
2,176,366
15.553,816
4,420,604
22,150,786
19.397,360
Unreallsed gainslllossesl amountlng to £2,149,71712021: £4,740,7091 are based on a valuation at the
year*nd which is unlikely to equate to the actual gains and losses which will arise on the subsequent
realisation of those Investments.
TAXATION
The Mark Benevolent Fund is a re8iStered charity and is able to take advantage of the exemptions from
tax for charities on its incorne and investrnent gains.
RELATED PARTYTRANSACTIONS
The Fund is admlnlstered by The Grand Lodgè of Mark Master Masons IGLMMMI. The Fund paid a
management fee of £2(M),O(X) in thè year12021.. £200,000) to GLMMM to cover staff and administration
costs and charged rent of£nil12020= £nlll to GLMMM. Due to changes In the terms of the Lease, GLMMM
now pays the rent direct to Crown Propertie5. Included in Donations and Le8acies is an amount of
£135,fKrf)12021.. £135.OWI In respect of the rent paid directly on behalf of the Fund. A corresponding
expense is included wSthin support ¢0Sts.
At the yearend GLMMM owed MBF £45,06512021'. GLMMM owed MBF £29.3101 in respect of these
transartlons.
Pa8e 16